Aust stocks set to open flat

Local market tipped to begin little changed despite strong Wall Street leads.

The Australian stock market looks set to open flat despite gains on international markets after Iran struck a landmark deal on its nuclear program that will see sanctions eased on the key oil exporter.

The accord reached over the weekend in Geneva sent crude futures lower in Monday trading, weighing on share prices in energy groups but considered a boost to business, especially fuel-hungry airlines, on anticipation of lower costs.

At 0648 AEDT, the December share price index futures contract was unchanged at 5,375.

In economic news on Tuesday, Reserve Bank of Australia deputy governor Philip Lowe is scheduled to deliver the keynote address at an International Association for Research on Income and Wealth (IARIW) and University of New South Wales (UNSW) Conference.

In equities news, Aristocrat Leisure is expected to post full year results while Woolworths, Harvey Norman, Brickworks, IOOF, Ridley Corporation, Challenger and Kingsgate Consolidated have annual general meetings scheduled.

In Australia, the market on Monday gained thanks to continued positive momentum on Wall Street.

The benchmark S&P/ASX200 index rose 15.8 points, or 0.3%, to 5,346.1.

The broader All Ordinaries index added 16.9 points, or 0.32%, to 5,352.8.

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